Topic: [ANN] FedoraCoin (TiPS); New style, new services, same unique features - page 29. (Read 181129 times)

making remaining coins 1000x more valuable, I have nothing against.
Besides, coins are still being mined, and it would make it so much more profitable.

Protip: if someone would want to really teach us a lesson, they would push huge amount of hashing power and derail whole blockchain, or
at least push it to astronomically high diff often enough to make us leave it.

they would just buy off the remaining coins and burn them

What is MercBay?

MercBay is a site, or as more join the revolution, a swarm of sites sharing the same database of information, utilizing "Blockchain-Link" which is an open source protocol for embedding data in the blockchain of CryptoCurrencies.

Why would you want to do that?

CryptoCurrencies like Bitcoin and Fedoracoin have a number of useful properties which Blockchain-Link exploits:

    The blockchain is built on a peer-to-peer network which makes broadcasting of data far and wide easy to accomplish.

    The blockchain is verified by all the participants in the network, meaning data embedded within it cannot become corrupted.

    The blockchain is used as a record of account, so it already has existing utility, meaning it's less likely to be censored.

    The act of embedding data in the blockchain via the Blockchain-Link protocol requires users to spend their coins, meaning there's a cost associated with publishing.

By building on these foundational properties, Blockchain-Link allows anyone to publish data in a way that is effectively anonymous, and will be very hard to censor, yet easy to find. The implementation on MercBay utilizing Fedoracoin as a cryptocurrency makes the process very inexpensive.
Does it destroy coins?

Yes. Every publish requires spending to addresses for which the private key isn't known. This causes further deflation of the currency, removing them from circulation ("burning"), making the existing coins more valuable.

But won't this bloat the blockchain?

While the blockchain will increase in size with every piece of data published, because the coins are being destroyed, they can never move again. This means they will never generate another transaction to increase the size of the blockchain. Any cost in size is paid once and never again, as opposed to when coins transfer ownership and will subsequently generate more transaction. If the blockchain was only used for this purpose, there would be an upper limit on the blockchain size, as opposed to the present assumption that it will grow forever. So while adding data to the blockchain will increase the size of it, it can't possibly increase it more than sending coins around.

Someone submitted a magnet link that torrents my intellectual property. Remove it, please.

That's... that's not a question.

Well?

Okay, close enough. MercBay merely makes magnet link information widely available. If you represent the legal interests of various IP holders, you can naturally still track who is sharing and distributing data the same way you always have to this point.
Okay, some jackass just uploaded something that is illegal in my country. What can you do about it?

Hope and pray that some poor idiot doesn't participate in the dissemination of the material in said country? Seriously, MercBay doesn't do anything to BitTorrent traffic as it is right now. All it is is a magnet link repository, there is no content of any sort hosted on this site. In addition? There is no content of any sort in the individual blockchains. So it's the same as it was a week before MercBay launched and beyond for many years prior: if you host, seed and torrent illegal, exploitative content, you will be caught, full stop. If you would like to help law enforcement in the investigation of such ne'er do wells, copy the magnet link itself and send it to a law enforcement branch of your choosing. So that they will be best prepared to go after anyone seeding/hosting the content, taking it away from them. Remember, if there are no seeds, it renders that magnet link useless. So do your part and then let the legal system take it from there.

Hope and I are extending an offer to the TiPS community. BitHub would be perfect for Fedora and vice verca.

I plan on having bitcoin, feathercoin and ufocoin in at the start.

Fedora could simply serve as a tipping coin on the platform as opposed to having it's BC been used for magnet link embedding if the community feels it's a concern.

I believe the primary concerns here are:
i) Stability
Fedoracoin should be resilient against all the common and known issues surrounding the bitcoin technology, we may not lead the way, but we should be innovative enough to carve a lucrative niche. For Instance, the blocks should have a stable and reliable timetable, the faster -the better, whether we go POS, POW, POI or a hybrid of all those, the endgame is to provide a consistent user experience.

ii) Development
I am working towards putting together a competent team. The team is in place, the competence is being worked on as we speak. We are noobs to say the least, but we have the heart for it, the willingness to learn and the humility to be corrected whenever we err. We would also be willing to partner and learn from whomever is able to advance our common interests. Who is the lead developer? None, we play as a team. In that spirit, we humbly request Invisibel, icanprogram, MystPhysX and all the great guys that lead in the past to allow us work with them in advancing this coin to the benefit of all.

We will not need payment for our services, since the coin is rather cheap as is, and thus we come in as investors.

BTW: Fedoracoin is #42 at https://www.coingecko.com/en/coins/fedoracoin... we got potential!

What, law enforcement, corporations issuing DMCA notices? People running nodes aren't going to be getting those things, I am. Anyone with a site up will.  

And I'll continually reinforce that there is no content on the site. No content even, in the blockchain.  

They'll have to go about stopping it the same way they do now: and that's sit and watch the trackers that a magnet link links to and follow those IPs in order to do their enforcement.


'k.

Who is "They"? The assumption is that this space is composed of everyone else apart from "Them"? That truly is the worst angle to tackle the issue at hand. An assumption that could turn very costly.

Clearly, your plans for this blockchain run contrary to the plans we have for the same. But since all we have is experimental software, you could do this your way, or let the community have its say. As for us, we are totally against the "pirating" of fedoracoin.

An absurdity that'll bring about real change in the concept of what constitutes a crime or intent in regards to data.

They'll come after the site first to ask questions. It's how they're trained.

Unlike Bitcoin, and if thepiratebay is anything to go by, a blockchain hosting links to torrent files will definitely be a target, it may even be the first "blockchain arrest". Node's have specific IP addresses that can be tracked and brought down.

A userspace solution is needed in such a situation, if the bitmessage system does not quite cut it, why not then use the openbazaar system?

Meanwhile, what happened to Leadcoin? Why didn't it take off?

"There's no bloat because of the burn cost."
Please explain the entire plan/proposal so that we can contribute fully.

While the blockchain may be distributed, its still a single entity. One way to attack it would be to bloat it, thus reduce the number of players willing to store the entire block, then take them out. What torrents need is a totally decentralized solution, no single point of failure.

1. Why switch the hosting? Does that imply we will be receiving modified versions of the wallets? I'd be much more comfortable with the same host as before.

2. I do not think blockchaining torrents is necessary, though for the sake of experiment, how are we going to handle bloat? I'd rather a totally decentralized solution for torrents such as bitmessage. That way, there is no single point of failure. The blockchain is an easy target.